Doesn't the reserve, or sinking fund, cover the work that is required in some blocks?
Some residents have raised the possibility of using the reserve, or “sinking” fund, as a way of offsetting costs to residents.
All leaseholders contribute to the reserve fund for their block and plot. At East Village, the sinking fund is used for two main purposes, the long-term maintenance and repair of the blocks (lift renewal etc.) and shorter term projects such as the decoration programme. The fund is held by EVML on your behalf and audited annually. Some residents would like to draw on these funds for the fire safety work. However, using the sinking funds for the fire safety works would leave the fund unable to meet the future obligations to repair the blocks.
How can Triathlon Homes help me?
We are doing our best to complete our building safety programme at pace and carry out this work safely. If you are in hardship because of the timing of the programme for your building please speak to us. We want to support our residents and recognise that this is stressful time for many. There may be other options that we can discuss with you that could help.
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